Yamaha to invest $150m in automobile industry

Our Staff Reporter
ISLAMABAD - Yamaha is investing $150 million in the automobile sector in Pakistan. A special incentive plan is devised to promote the advanced motorbike industry for the bourgeois.
These motorbikes would be fuel efficient and economical for more than 200 million users. In progress to the project, the land has already been allocated to Yamaha in Port Qasim.
Chairman Board of Investment stated this while talking to Ambassador of Japan Hiroshi Oe. The Ambassador showed his deep concern about the security issues of the investors in Pakistan. He said that bilateral relations between Pakistan and Japan are based on commonality of interests and aspiration for peace and development especially for our region, which Japan also regards as pivotal for peace and stability in Asia.
Japan has been a close friend and an important development partner throughout. Chairman BoI also informed the ambassador that BOI proposes to establish a new Japan Specific Special Economic Zone with broad features like in Sindh one million acres of Government land is available for the proposed SEZ. The location advantage for industries in the proposed area and vicinity is the direct access of Port Qasim enabling raw material import and finished goods export without incurring major inland transportation costs and saving time and vicinity to the water reservoir is also included in the SEZ plan.
He further added that Japans economic assistance has played a very important role in the development of Pakistans economic and social infrastructure. The major projects, which have been funded by Japan, include the Indus Highway Project, a number of power projects, Rural Roads Construction Project and the Children Hospital PIMS Islamabad.